Makhteshim Agan reports preliminary results for Q4 2009

The Company gave notice that following commencement of and analysis of its financial results for the fourth quarter of 2009, it expects to report annual sales of $2,215 million in 2009 compared to $2,535.5 million in 2008, and expects to report sales of $495 million in the fourth quarter of 2009 compared $491 million in the corresponding quarter last year. In addition, the company expects to record an annual net income of $33 million in 2009 compared with an annual net income of $219 million in 2008 and expects to report a net loss of $30 million in the fourth quarter of 2009 compared with a net income of $8.7 in the corresponding quarter in 2008. The Company expects, as mentioned in its previous reports, to gradually return to its growth trajectory and improve profitability during 2010.

The Company notes that the above data are an estimate only, based on preliminary information in the Company possession, and that this data has not yet been audited or reviewed by the Company’s auditors.  This estimate might change, due, amongst other things, to the result of processing and analysis by the Company of the financial data for the purpose of preparation of its annual financial statements, which are expected to be published during the course of March 2010.